The previous illicit activity of money laundering in the Ecuadorian legal system (reference year 2014)

Abstract

Money laundering is an illegal activity that occurs when a person known as a washer takes movable or immovable property, money or securities of illicit origin and introduces them into the financial system, giving them a legal appearance. These assets usually come from a previous illicit activity, such as drug trafficking, arms sales, corruption; so that the perpetrator of the crime seeks the climate in the system of the distant economy, doing business as investments, business, purchase of real estate and other activities that reflect the lawfulness in the business.

KEY WORDS: money laundering, activity, illegal, prior, assets.

JEL CODE: K14, K42